Multiple Choice Question 78

Vaughn Manufacturing has the following inventory data:

July 1 Beginning inventory 31.0 units at $19.0 $589 7 Purchases 107.0 units at $20.0 2140 22 Purchases 15.0 units at $22.0 330 $3059

A physical count of merchandise inventory on July 30 reveals that there are 49.0 units on hand. Using the LIFO inventory method, the amount allocated to ending inventory for July is

$980.

$931.

$1078.

$949.